Build Back Better Act: On the Back Burner?

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Course Description
Course Qualification
Presenter
FAQ

Course Description

Overview

Build Back Better act timeline

6 mins
BBB individual income tax proposals

11 mins
Retirement plan proposals

31 mins
Estate and gift tax proposals

38 mins
Expanded and extended credits

44 mins

Course Description

The Build Back Better Bill is a bill introduced in the 117th Congress to fulfill aspects of President Joe Biden's Build Back Better Plan. It was spun off from the American Jobs Plan, alongside the Infrastructure Investment and Jobs Act, as a $3.5 trillion Democratic reconciliation package that included provisions related to climate change and social policy. Following negotiations, the price was lowered to approximately $2.2 trillion. The bill was passed 220–213 by the House of Representatives on November 19, 2021.

Under the Biden administration, proposed changes include increasing taxes on multinational corporations, the top tax bracket, elimination of the “Backdoor Roth IRA,” as well as a new Social Security payroll tax for individuals earning more than $400,000.With the Tax Cuts and Jobs Act set to expire on January 1, 2026, learn what’s set to be removed and what’s staying.

This CE/CPE Tax Program will discuss the current status of President Biden's Build Back Better Act, including the timeline, updates, and proposals for both individuals and corporations.

Following are the major topics covered in this CE/CPE webinar:

BBB Timeline
Senate Updates
Individual Income Tax Proposals
Estate Planning Proposals
Corporate Taxes
Individual Retirement Accounts

Learning Objectives

To discuss BBB timelines and senate updates.
To analyze individual income tax proposals and estate planning proposals.
To explain significant aspects of corporate taxes.
To identify new proposals to the current system.
To discuss individual retirement accounts.
To recognize business tax deductions and planning opportunities.

Recommended For

This IRS-approved CE webinar is recommended for CPA (US), CFA, CIPM, ChFCA, CASL, ChSNC, RICP, WMCP, FSCP, TEP, CSA, PFS, EA, ERPA, AFSP, CRTP, MRTP, ORTP, and other accounting and tax professionals who want to understand about the current status of Build Back Better Act.

Who Should Attend?

Annual Filing Season Program
Bookkeepers & Accountants & Tax Preparers
California Registered Tax Professional
Certified Public Accountant (CPA)
CPA (Industry)
CPA - Mid Size Firm
CPA - Small Firm
Enrolled Agent
Maryland Tax Preparers
Oregon Tax Preparers
Tax Professionals
Young CPA

Course Qualification

Webinar Qualifies For

1 General Credit for Accountant/Bookkeeper (ACCT./BK)
1 CE Credit for Annual Filing Season Program (AFSP)
1 CE Credit of Federal tax-related matters for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-0899)
1 CE Credit of Federal tax-related matters for Enrolled Agents (EA) (Approval No. GEHNZ-Q-01036-22-S)
1 CE Credit of Federal tax-related matters for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-Q-01036-22-S)
1 CE Credit of Federal tax-related matters for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-Q-01036-22-S)
1 CPE Credit of Taxes for Certified Public Accountants (CPA-US)
1 CPD Credit of General income tax planning for Personal Financial Specialist (PFS)
1 CPE Credit for Chartered Financial Consultant (ChFC)
1 CE Credit for Certified Senior Advisor (CSA)
1 CPE Credit for Financial Services Certified Professional (FSCP)
1 CPE Credit for Chartered Advisor in Senior Living (CASL)
1 CPE Credit for Chartered Special Needs Consultant (ChSNC)
1 CPE Credit for Retirement Income Certified Professional (RICP)
1 CPE Credit for Wealth Management Certified Professional (WMCP)
1 CE Credit for Certified Fiduciary & Investment Risk Specialist (CFIRS)
1 CE Credit for Certified Wealth Strategist (CWS)
1 CPE Credit for Certified Government Financial Manager (CGFM)
1 CE Credit of Qualified Retirement Plan Matters for Enrolled Retirement Plan Agent (Approval No. GEHNZ-Q-01036-22-S)

Additional details

Course Level :

Basic
Credits :

1
Instructional Method :

QAS Self Study
Pre-requisites :

None
Advance Preparation :

None

IRS APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: GEHNZ) has entered into an agreement with the Internal Revenue Service, to meet the requirements of 31 Code of Federal Regulations, section 10.6(g), covering maintenance of attendance records, retention of program outlines, qualifications of instructors, and length of class hours. This agreement does not constitute an endorsement by the IRS as to the quality of the program or its contribution to the professional competence of the enrolled individual. Credit earned by attendees with a PTIN will be reported directly to the IRS as required of all providers. To ensure your CPE hours are reported, update your profile in My Account to include your PTIN number. Please note: IRS CE is only mandatory for EAs and ERPAs. For all other tax return preparers, CE is voluntary.

NASBA APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.

CTEC APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor ID# : 6273) has been approved by the California Tax Education Council to offer continuing education courses that count as credit towards the annual “continuing education” requirement imposed by the State of California for CTEC Registered Tax Preparers. A listing of additional requirements to register as a tax preparer may be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA, 95812-2890, toll-free by phone at (877) 850-2832, or on the Internet at www.ctec.org.

Presenter

About Presenter

Daniel Rahill

Managing Director, Wintrust Wealth Management

Daniel F. Rahill is a Managing Director at Wintrust Wealth Management, where he works with clients to determine their financial objectives and develop strategies for their tax, estate, investment, philanthropic, and family capital needs. Dan works closely with shareholders and their privately-held businesses on mergers, acquisitions, divestitures, and succession planning. He also advises wealthy families on tax minimization, wealth preservation, and family office management.

Previously, Dan was with KPMG for 27 years, where he held numerous leadership roles over his 21 years as a tax partner, including tax managing partner of the Chicago Metro Business Unit and trustee of the KPMG Foundation. He served as the lead partner on many of KPMG’s high-profile multinational accounts, privately-held companies, and family offices. Prior to KPMG, Dan practiced law in Chicago, specializing in tax and estate planning. He began his career in audit with Ernst & Young.

Dan frequently lectures to CPA societies, bar associations, family office organizations, trade and industry groups, and universities. He is often published and interviewed in the media, including Chicago Tribune, Crain’s Chicago Business, ABC7, WBBM Radio, Yahoo Finance, and the Illinois CPA Society’s Insight Magazine. Dan is currently President of the Illinois Chapter of the American Academy of Attorney-CPAs, the Financial Planning Association of Illinois and the Chicago Estate Planning Council. He is a former chairman of the Illinois CPA Society, and serves on three academic advisory boards and several nonprofit boards and committees.

Dan graduated from the University of Notre Dame with a bachelor’s degree in accounting, received his law degree and a master of laws in taxation (LLM) from the DePaul University College of Law, and is admitted to practice law before the United State Tax Court.

About Company

Wintrust Wealth Management

www.wintrustwealth.com

Wintrust Wealth Management provides a broad range of financial services to private clients and institutions. Founded in 1931, we are one of the oldest and most respected financial service providers based in the Midwest. Today, we proudly serve nearly 30,000 clients and are responsible for over $31 billion of their assets. We deliver our unique brand of wealth management services in the form of trust and estate services through The Chicago Trust Company, brokerage and investment planning through Wintrust Investments, institutional money management through Great Lakes Advisors, and 1031 exchange services through Chicago Deferred Exchange Company.

Faq

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